Upstart (NASDAQ:UPST) stock is catching the eye of investors on Friday as they look for the shares to reach $400.
There’s no official news from the company responsible for today’s movement. Instead, it looks like a recent interview with EMJ Capital’s Eric Jackson on CNBC is behind the surge. In it, Jackson said that he believes UPST “should be a $1,000 stock today.”
The idea of UPST stock jumping to $1,000 per share is no doubt exciting for investors. After all, that represents a potential upside of roughly 154% for the company’s shares. However, first it has to break the $400 mark.
Keeping this in mind, let’s take a look at what traders need to know about Upstart today.
- UPST is an AI lending platform that partners with banks and credit unions to expand access to affordable credit.
- This allows for higher approval rates and lower loss rates for banks and credit unions.
- That also lets them deliver a “digital-first lending experience their customers demand.”
- The company prides itself on two-third of its loans getting approved instantly while being fully automated.
- Upstart was founded in 2012 by former Google employees.
- It’s currently based out of San Mateo, Calif., and Columbus, Ohio.
The extra attention of UPST stock today has shares seeing heavy trading. As of this writing, more than 6 million shares of the stock have changed hands. That’s above the company’s daily average trading volume of 4.9 million shares.
UPST stock was up 3.9% as of Friday afternoon.
Investors looking for more stock market news today will want to stick around!
InvestorPlace has all the latest stock market coverage that traders need to know about today. That includes the news boosting Nio (NYSE:NIO) stock higher today, why Corsair Gaming (NASDAQ:CRSR) shares are falling, as well as what’s sending Virgin Galactic (NYSE:SPCE) stock lower. You can get all the details on these topics by following the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
